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Originally Posted by MeToYou  As there are no VBA in the UK and one of my bank accounts is tied to the PayPal account I just lost, and my other bank account to my currently still open Personal account, I am guessing I need a new bank account for a new PayPal account.
Would a NatWest basic account be ok ? Or are basic accounts only for those who can't get overdrafts ? I don't want or need an overdraft or anything like that but I am in good credit standing to get one. Would having a basic bank account on my credit report be a negative for getting credit in the future ? Given they are usually only for those who can't get credit ? Or does this account not show up on a credit report due to the lack of overdraft ? | All bank current accounts now held by an individual are now shown on UK credit report with or without OD facility.
These in themselves do not directly have an adverse effect on your credit score but opening too many to quickly will rack up a large number of searches recorded on your file and this in conjunction with multiple current account may make any potential lender look more closely at your profile when considering any application.
If you are running multiple accounts then I would suggest you subscribe to Credit Expert (Experian) for £60 a year and check your credit repot regularly and also your credit score every 3/6 months (£5.95 a time)
P.S. Basic bank accounts have nothing to do with poor credit history per say but offer very basic current account banking i.e. no overdraft or add on 'benefits like travel insurance etc etc.
Last edited by NoneOther; 03-08-2012 at 07:46 PM.
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